The gold price was unable to make a lot of progress this year, although the damage was contained in comparison to last year. Doubts about the future of gold have grown over the past few months, however. An old saying teaches us that gold and silver will always hold their value, but the question is how much are these precious metals really worth right now.

According to different gold bugs, we reached a turning point this year. The gold price is doing some serious bottom formation, and from a certain critical point onwards, gold prices should continue to rise. There are a few pessimists out there as well, however.

How Did Gold Perform?

It is interesting to take a look at the performance of gold over the last few months. We are not just looking at the gold price expressed in dollars, but also expressed in other major currencies.

On the chart above you can see that gold has gotten a lot more expensive in Russia in the last few months, which is related to the crash of the ruble. The Russian currency has hit a rough patch in recent months, but expressed in Yen, the gold price has not done too badly.

Clearly, gold has not become cheaper in all countries, and currencies.